NonBank Lender Provides $14.4 million of Real Estate Financing
Days after its acquisition by Stonebriar Commercial Finance, NonBank Lender (“NBL”) has completed the financing of a 145,000-square foot Industrial Warehouse facility in Los Angeles, California. The subject property will enable the borrower, a specialty produce distributor, to add additional staff and continue to drive its growth. NBL’s loan included capital for the addition of solar panels, improving the property’s energy efficiency and thereby qualifying the entire project as an SBA “Green” project. The SBA’s standard limits on loan amounts do not apply to Green projects.
NBL partnered with So Cal CDC to fund the SBA 504 Green project in just under 3 weeks. NBL’s close relationships with Certified Development Companies (or “CDC’s”) throughout the nation helps ensure fast and efficient execution. Curtis Valenzuela, NBL’s President, spoke highly of the project stating, “We are excited to have delivered for this customer, who came to NBL frustrated with the process of other potential lenders. With the help of So Cal CDC, the NBL team moved quickly to approve and fund the project.”
With the capital resources now provided by Stonebriar, NBL has greater flexibility and surety of execution; evidenced by the fact that NBL served as a single source for both the 2nd Lien Interim Loan and the 1st Lien Mortgage. According to Stonebriar CEO Dave B. Fate: “The ability to service all aspects of a 504-supported transaction while not being limited by size restrictions is a differentiating factor for NBL. That, combined with Curtis’ and his team’s in-depth knowledge and experience, allows NBL to deliver every benefit of the SBA’s program to his customers.”
Travis Bell, NBL Loan Officer added, “This project is a very strong statement about NBL’s financial strength and ability to meet the Borrower’s needs in a timely manner, regardless of the size.”
About Stonebriar Commercial Finance: Stonebriar is a privately held commercial finance company established in 2015 and based in Plano, TX. With financial backing from Security Benefit Corporation and Eldridge Industries, Stonebriar is building a world class, multi-billion dollar platform of commercial loans and leases. Stonebriar specializes in transactions for businesses in a wide variety of industries (Business Aviation, Rail Leasing, Realty Capital, NBL Small Business Lending, marine, transportation, manufacturing, energy, etc.) throughout the entire credit spectrum located in the United States, Canada and select other foreign jurisdictions. To learn more about NonBank Lender go to www.nonbanklender.com.
For more information contact:
Travis Bell: (972) 896-9596 Travis@NonBankLender.com
Curtis Valenzuela: (714) 595-1696 Curtis@NonBankLender.com